This looks like a classic setup for a short continuation play on a bearish retest. The volume spike on the retest is a strong indicator that sellers are defending the broken support level, turning it into resistance.
📊 Trade Setup Overview
ParameterPrice Level / TargetRisk/Reward NotesEntry Zone0.17818 - 0.17888Entering near the top of this range maximizes your Risk-to-Reward ratio (R:R).Stop Loss0.18208Placed safely above the order block and liquidity trap zone.Target 10.17244First key support zone; ideal for securing partial profits and moving the stop to break-even.Target 20.16859Mid-range target following the extension of the bearish momentum wave.Target 30.16473Major support floor; the ultimate destination for the full extension of this wave.
🔍 Technical Breakdown
Liquidity Trap Validation: The 1H candle circling the breakout level suggests the "smart money" is fishing for stop-losses of early breakout sellers while trapping late buyers. A clean rejection candle here closes the door for the bulls.
Order Block Resilience: The fact that the 0.1785 order block has been tested twice and held reinforces the strength of this resistance.
Tiered Strategy: Scaling out at Target 1 is crucial. If this is a fakeout, protecting your capital early keeps you in the game.
Managing risk tightly around that 1H
📊 Trade Setup Overview
ParameterPrice Level / TargetRisk/Reward NotesEntry Zone0.17818 - 0.17888Entering near the top of this range maximizes your Risk-to-Reward ratio (R:R).Stop Loss0.18208Placed safely above the order block and liquidity trap zone.Target 10.17244First key support zone; ideal for securing partial profits and moving the stop to break-even.Target 20.16859Mid-range target following the extension of the bearish momentum wave.Target 30.16473Major support floor; the ultimate destination for the full extension of this wave.
🔍 Technical Breakdown
Liquidity Trap Validation: The 1H candle circling the breakout level suggests the "smart money" is fishing for stop-losses of early breakout sellers while trapping late buyers. A clean rejection candle here closes the door for the bulls.
Order Block Resilience: The fact that the 0.1785 order block has been tested twice and held reinforces the strength of this resistance.
Tiered Strategy: Scaling out at Target 1 is crucial. If this is a fakeout, protecting your capital early keeps you in the game.
Managing risk tightly around that 1H